Karma Ventures invests in SpectX

SpectX has announced raising investment from Karma Ventures
for product development and growth. The startup founded by former
security engineers at Skype and Swedbank is developing a powerful
analytics software solution for rapid processing of unlimited amounts of
data. The product will be publicly launched in autumn 2017.

The
company’s technology innovation enables handling of machine generated
data in its original location rather than loading it into separate tools
and databases for processing. It enables analysts to work and
experiment with data faster than is possible with existing tools without
fear of errors halting their mission.

SpectX’ CEO Renee Trisberg
says that the investment is used mainly for product development. “We
have offered SpectX’ solution for testing to several technology
companies and government organisations experiencing similar restraints
in log and data analysis as we were seeing during our previous career.
Their feedback is active and positive, showing strong demand for
enhanced features and scalability,“ Trisberg noted.

According to
Margus Uudam, founding partner of Karma Ventures, the investors were
impressed by the elegant technology behind SpectX. “There is no other
product in the market as fast and flexible as SpectX for analysing large
unstructured data sets. The professionalism of the team and the initial
product they have built show significant potential,” Uudam said.

As
the size of digital universe is doubling every two years, data-based
decisions are becoming an inescapable necessity for enterprises and
governments. Extracting information from machine generated data poses
its challenges because of its high volume, volatile structure and
scattered storage. There are many log analysis and business intelligence
solutions in the market but most of them are priced by data volume and
offer limited analytics features compared to SpectX.

SpectX’
solution is currently used by several successful technology enterprises,
among them Starship Technologies, a company developing small
self-driving robotic delivery vehicles. Its speed, flexibility and ease
of use is praised by data scientists, security incident handlers as well
as system administrators.